Program administrator :

Octave Assurances Inc.

6000, De Rome Blvd., Suite 430

Brossard (Québec) J4Y 0B6

Tel : 1 (877) 882-7896

Fax : (450) 656-7778

protectionroyale@octaveassurances.com

Your protection against latent defects, delays,

withdrawals and special assessments.

† Latent defects are defined within the policy.

* Information contained in this leaflet is only an outline of coverages available. For exact terms, definitions, limitations, exclusions and extensions, please refer to terms and conditions contained in the insurance policy.

** For repairs part of the building envelope – refer to the certificate of guarantee of La Garantie Rénovation de l’APCHQ for exact terms and exclusions.

Protection Royale® is underwritten by Aviva Insurance Company of Canada, a member of Aviva Canada Inc., and Octave Assurances Inc. serves as the plan administrator. Protection Royale® is being marketed under an agreement between Octave Assurances Inc. and Royal LePage Real Estate Services, a division of Brookfield Real Estate Services Inc. The Royal LePage name and mark is used by Octave Assurances Inc. under a license from Brookfield Real Estate Services Inc. Protection Royale® is not provided, issued or underwritten by Brookfield Real Estate Services Inc., or any of its subsidiaries, affiliates, franchisees, direct or indirect parent companies, or any of their employees or agents, and the foregoing make no representations or warranties regarding Protection Royale®.

The real estate broker is not an authorized insurance agent/broker and is not permitted to answer specific questions, provide advice or interpret the coverage and applicability of the program and/or the insurance policy. For further information, please contact the program administrator, Octave Assurances Inc.

How Protection Royale® benefits you:

• Mitigates risk by securing the transaction process of the property.

• Prevents potential latent defect disputes between the buyer and the seller once the transaction has closed.

• Offers support to you during the legal process in the event of a dispute regarding latent defects.

• There are no premiums charged to you as this insurance is paid for by your participating Royal LePage broker.

Save time, money and energy!

Special assessment for co-ownerships

Compensation for special assessments declared by the co-ownership syndicate before the closing date of the transaction.*

Situation 4:

Following the finalized offer to purchase a condominium, the co-ownership syndicate declares a special assessment to replace the heating systems in each unit. The cost of the new heating unit is to be paid by the seller, who is a client of a participating Royal LePage broker.

The seller is covered for associated costs up to $15,000.

Home closing delays and withdrawals

If the closing of a home is delayed beyond their control, the seller may be eligible to receive reimbursement of supplementary expenses in cases of unforeseeable events.*

Situation 3:

The client of a participating Royal LePage broker faces two simultaneous mortgage obligations following the withdrawal of the buyer of the property.

Since the situation was unforeseen and beyond his control, the client is indemnified for his additional mortgage interest payments and other irrecoverable extra expenses incurred.

Protection Royale® is an exclusive insurance program designed to support clients who are transacting in residential real estate through a participating Royal LePage broker.

Coverage includes protection against:

• Latent defects

• Home closing delays and withdrawals

• Special assessments for co-ownerships

Latent defect

A hidden defect in the structure, materials or systems of the building that could not have been discovered by a property inspector on or before the closing date and was unknown to the parties, which renders the property unfit for its intended purposes.†

• Coverage up to a maximum of $15,000 for repairs. In the case of a legal dispute, legal fees will be reimbursed up to $5,000.

• Repairs made by a Réno-Maître certified APCHQ entrepreneur, which includes a 5 year guarantee of labour.**

Situation 1:

During a storm, the client of a participating Royal LePage broker notices flooding in the basement due to a poorly installed window in his newly acquired home.

Based on the insurer’s assessment that it is a covered latent defect, a Réno-Maître certified APCHQ entrepreneur would be appointed to handle the repairs up to a maximum of $15,000.

Situation 2:

A buyer discovers a major problem with the drainage system and decides to sue the seller for damages.

The problem is determined to be a latent defect covered by Protection Royale®. As the seller sold the property through a participating Royal LePage broker, the legal and compensatory fees (if applicable) will be reimbursed.

Buy and sell with confidence!